Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The recent downleg in CNH/JPY has been limited by the channel floor/50-DMA (today at Y15.8440/15.8250) and the rate is poised to extend its current winning streak to three consecutive sessions today. With the rate trading -246 pips at Y15.8765 at typing, bears keep an eye on the aforementioned support levels. Should the pair manage to punch through Y15.8440/15.8250, bears would take aim at Nov 19 low of Y15.7680, located just above the 23.6% retracement of the Jul 31 - Dec 9 rally at Y15.7650. A break here would confirm that selling pressure is starting to dominate. Meanwhile, bulls are hoping that the pair is building a base before staging a rebound towards Dec 9 high of Y16.0310, a key near-term resistance level.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.